Interesting article on their upcoming gold backed currency https://www.moneymetals.com/news/202...mpaign=content
Interesting article on their upcoming gold backed currency https://www.moneymetals.com/news/202...mpaign=content
It's going to be interesting to see how this plays out. Keep in mind kadafi tried to unify africa with a common gold coin, and we all know what happened to him shortly afterwards.
"And how we burned in the camps later thinking, what would things have been like, if every security operative, when he went out at night to make an arrest, had been uncertain, whether he would return alive and had to say good-bye to his family?"
I wasn't even thinking along those lines, but Zimbabwe under that murdering lunatic will just keep printing so it wouldn't seem he would be any threat. The semblance of secure money will quickly decline even if backed by gold if printing money goes beyond what the gold backs. Raise your hands if you think Mugabe will be running that shithole with any regard to debt/money ratios.Originally Posted by 5.56NATO
I dunno but when you have a metal backed currency if someone shows up to that metal window and demands exchange of his currency for specie the window has to cough up, or the whoie thing's a sham and will be exposed. Either way can't see them pulling it off, how much gold does zimgov hold?
"And how we burned in the camps later thinking, what would things have been like, if every security operative, when he went out at night to make an arrest, had been uncertain, whether he would return alive and had to say good-bye to his family?"
LOL!!!
Was at a local antique mall recently. One of the vendors had 5 and 10 Billion Zimbabwe notes available for sale...think it was $8 for a 10 billion note...the pitch was...be a billionaire, overnight.
Does someone have a new Bernie Madoff ponzi scheme to offer instead? Better returns, on the front end.
If we refuse to rule ourselves with reason, then we shall be ruled by our passions.
He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond
There are some things I will not abide within my sight!
2.6 Tons as far as the article says.
Yeah that was the old currency, then they went to US dollars as most transactions in the country. The new gold backed currency will be introduced at 13.56 per US dollar Central bank governor John Mushayavanhu said the ZiG would be set at “a market-determined exchange rate.” Should be interesting to watch, whether the "gov't" reins itself in or just behaves like itself and the US as normal.LOL!!!
Was at a local antique mall recently. One of the vendors had 5 and 10 Billion Zimbabwe notes available for sale...think it was $8 for a 10 billion note...the pitch was...be a billionaire, overnight.
Does someone have a new Bernie Madoff ponzi scheme to offer instead? Better returns, on the front end.
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